Sumsub, a global leader in full-cycle verification, has announced a strategic partnership with Chainalysis, the forefront of blockchain data analysis.
Sumsub specialises in comprehensive verification solutions, including Transaction Monitoring and the Travel Rule, catering to various industries to ensure regulatory compliance and secure data management. Chainalysis stands as the pioneering blockchain data platform, providing unmatched analytics and insights across multiple blockchains to support compliance and investigation efforts.
The collaboration aims to bolster regulatory compliance, secure data storage, and automate digital asset transaction monitoring for client companies. By leveraging the strengths of both platforms, the partnership addresses the increasing complexity and stringency of regulations, ensuring clients remain compliant and protected against fraudulent activities and money laundering.
Sumsub offers an extensive array of verification services, designed to streamline KYC, AML, and transaction monitoring processes. The integration with Chainalysis’ blockchain analytics and key management model allows for enhanced privacy and control over data, presenting a unified solution for digital assets exchanges, peer-to-peer marketplaces, and neobanks engaging in digital asset transactions for their customers.
Furthermore, this partnership introduces a new era of digital compliance for digital asset businesses. The combined expertise of Sumsub and Chainalysis in transaction monitoring, analytics, and key management provides businesses with advanced tools for risk management, deeper investigation capabilities, and a secure environment for KYC and AML compliance.
Jacob Sever, co-founder and Chief Innovation Officer at Sumsub, said, “We are proud to work with Chainalysis, the leading blockchain intelligence provider in the world. This partnership enables us to offer access to over one billion mapped addresses across multiple blockchains to those customers who use Sumsub’s Transaction Monitoring and Chainalysis digital asset risk solutions.
“Sumsub’s solution enhanced capabilities, integrated with Chainalysis’ analytics and key management model, are reshaping the landscape of digital asset compliance and security in the digital realm. Through this integration, businesses can align with stringent global AML and KYC regulations, fostering trust and confidence in digital asset transactions.”
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